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14-95-610. Bond description and liability.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-95-610. Bond description and liability.
(a) It shall be plainly stated on the face of each bond that:
(1) It has been issued under the provisions of this chapter;
(2) The bonds shall be obligations only of the Arkansas Development Finance Authority, as specified in the applicable trust indenture; and
(3) In no event shall they constitute indebtedness for which the faith and credit of the State of Arkansas or any of its revenues, within the meaning of Arkansas Constitution, Amendment 20, are pledged.
(b) No member of the authority shall be personally liable on the bonds.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-95-610
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:14-95-610
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 06c847d55e14dce9061810c7f2bbeaa7c84c8497e5ffb3eadb068edd82d88af5
Source location: content.xml paragraph 27193
Stored source content
14-95-610. Bond description and liability.
(a) It shall be plainly stated on the face of each bond that:
(1) It has been issued under the provisions of this chapter;
(2) The bonds shall be obligations only of the Arkansas Development Finance Authority, as specified in the applicable trust indenture; and
(3) In no event shall they constitute indebtedness for which the faith and credit of the State of Arkansas or any of its revenues, within the meaning of Arkansas Constitution, Amendment 20, are pledged.
(b) No member of the authority shall be personally liable on the bonds.
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